British Expats

British Expats (https://britishexpats.com/forum/)
-   Moving back or to the UK (https://britishexpats.com/forum/moving-back-uk-61/)
-   -   building up credit rating (https://britishexpats.com/forum/moving-back-uk-61/building-up-credit-rating-843718/)

mikelincs Sep 28th 2014 5:15 pm

Re: building up credit rating
 
UK companies will search credit ratings for many things, phone contrcts, interest free purchases of furniture, always a good idea as it spreads the paying back at no cost to you, even getting utilities like phone and internet in your house. Using a credit card and never missing a payment, even better paying it off every month, will do it, even if you can afford to pay by debit card, using the CC will build up your rating.

cityboys1911 Sep 28th 2014 7:05 pm

Re: building up credit rating
 
after reading all the threads about UK credit, we are moving back to the UK next year after 12 years in the US we still have a UK bank account will I need to get a credit rating again ???????

sineface Oct 7th 2014 2:29 am

Re: building up credit rating
 
When trying to get a home to rent, phones, all that lovely stuff, will they run a US credit check? We're looking to move back within the next 2 years and have a great credit here, but zero there. If they won't, how else to start building it if you don't have HSBC (we are with USAA)? My husband's company will be sponsoring his visa...does that at all help? Thanks

pondhopper2014 Oct 7th 2014 11:43 am

Re: building up credit rating
 

Originally Posted by quiltman (Post 11420765)
Yes, electoral roll quite important! most credit checks use this to see if you do actually live there!Not being on the roll raises a question mark. you may get asked why, but often you just get refused credit. Almost all accounts requiring credit - Gas, electricity,water,cable, phone etc do credit checks before opening account.The best credit rating is having cards etc with an up to date payment record.Getting the first credit account is the hardest, then it's usually easy unless you've been a naughty person!
Cell phone accounts usually do the credit check whilst you are in the store -people want to walk out with their new phone!

Question, do you get on this electoral roll if you aren't renting yet? My Hunny just went over yesterday but he'll be staying with family... Does he get on the electoral roll for that address? What happens when he finds work and moves? How does ge get on the roll anyhow?

So many questions!!!:eek:
Thanks!

dunroving Oct 7th 2014 3:34 pm

Re: building up credit rating
 

Originally Posted by pondhopper2014 (Post 11430581)
Question, do you get on this electoral roll if you aren't renting yet? My Hunny just went over yesterday but he'll be staying with family... Does he get on the electoral roll for that address? What happens when he finds work and moves? How does ge get on the roll anyhow?

So many questions!!!:eek:
Thanks!

AFAIK, any eligible adult living at a given residence can be added to the electoral roll. See this FAQ page for further details.

Bermudashorts Oct 7th 2014 7:47 pm

Re: building up credit rating
 
I wonder if people are in danger of trying to hard with credit rating, I think just let it happen by itself.

When we moved back the first time, had no problem getting everything connected and a mobile phone contract. We also got a mortgage. But as for anything else, we found most places had a two year wait before they will extend any credit. Credit rating would not have helped with that. I would not borrow money for a car, incurring cost, just to get a credit rating, not if I can buy the car outright.

Wombat7 Oct 7th 2014 11:28 pm

Re: building up credit rating
 
Tried to rent somewhere for six months but credit check was rejected "computer said no". So paid the six months rent in advance. once we have address would be good to get mobile contract on unlocked phone - we shall see.

All part of the exit tax as I see it. No question, UK will be more expensive and and hassle but we are going to the other advantages

Janelle Oct 8th 2014 7:19 am

Re: building up credit rating
 
Sineface, you mentioned you bank with USAA, do you know that you can get car insurance in the UK through USAA? With USAA you keep your driving record, whereas if you start afresh with a UK insurance company they consider you a brand new driver and charge you accordingly.

USAA London Office phone number: 0207 6551800

We kept our US bank account and pay the premium by direct debit in dollars. Hope this helps.

sineface Oct 8th 2014 10:27 pm

Re: building up credit rating
 
Wow, Janelle, that is great news! Thanks for sharing!

Wombat7 Oct 8th 2014 10:47 pm

Re: building up credit rating
 
Would be interested in other comments on the statement that "if you start afresh with a Uk insurance co they consider yiu a brand new driver"

We have a letter of no claims from Canada, but saw one website saying that the "no claims" had to be in UK - think it might have been AVIVA.

Other experiences?

Novocastrian Oct 8th 2014 10:57 pm

Re: building up credit rating
 

Originally Posted by Wombat7 (Post 11432500)
Would be interested in other comments on the statement that "if you start afresh with a Uk insurance co they consider yiu a brand new driver"

We have a letter of no claims from Canada, but saw one website saying that the "no claims" had to be in UK - think it might have been AVIVA.

Other experiences?

A slightly tangental one. I have a car insured in France for use when we're in that house. The French company (AXA) only wanted proof that I'd been insured in Canada for at least 5 years, which of course was no problem.

Our plans have now changed and we'll be splitting our time roughly 50/50 between France and the UK for a few years (I've mentioned why on a couple of other threads). My current thinking is just to bring the French insured and registered car over for the times we're in the UK.

Insurance problem solved; and cheaper than owning two "half" cars.

Janelle Oct 9th 2014 6:43 am

Re: building up credit rating
 
After reading comments on BE about the difficulty of transferring no claims to UK insurers I did not even bother getting quotes from UK insurers.

USAA is a special organisation; if you are eligible to join, you want to keep it. It was set up in 1922 by some military officers who could not get insurance on their cars because of the constant moving around which is the nature of military careers. Nowadays USAA has expanded to provide insurance, banking and financial services to people with some connection to the US military. Consequently they are adept at dealing with customers who keep moving all over the world.

Bermudashorts Oct 9th 2014 7:26 am

Re: building up credit rating
 

Originally Posted by Janelle (Post 11432756)
After reading comments on BE about the difficulty of transferring no claims to UK insurers I did not even bother getting quotes from UK insurers.

USAA is a special organisation; if you are eligible to join, you want to keep it. It was set up in 1922 by some military officers who could not get insurance on their cars because of the constant moving around which is the nature of military careers. Nowadays USAA has expanded to provide insurance, banking and financial services to people with some connection to the US military. Consequently they are adept at dealing with customers who keep moving all over the world.

I don't recall having any trouble when I moved back from Bermuda.

I just got an online quote for the car I might like to get with Direct Line, without a no claims discount and it was £300, which seems perfectly fine to me although I am used to ridiculous prices in Australia now.

dunroving Oct 9th 2014 9:40 am

Re: building up credit rating
 
My experience was that while my overseas and prior UK NCB (about 25 years' claim-free driving) was taken into consideration, my premium was higher for a couple of years because of no recent driving experience in the UK.

In other words, as an overseas driver, I was deemed to be a greater danger on the roads until I got used to driving on the left and using roundabouts. ;)

lf1 Oct 9th 2014 12:46 pm

Re: building up credit rating
 

Originally Posted by Wombat7 (Post 11432500)
Would be interested in other comments on the statement that "if you start afresh with a Uk insurance co they consider yiu a brand new driver"

We have a letter of no claims from Canada, but saw one website saying that the "no claims" had to be in UK - think it might have been AVIVA.

Other experiences?

I obtained a copy of my Cdn claims history from my Insurer and my driving abstract (history) from Ab Govt. NFU accepted both and gave me a much better price than I had been quoted by other markets. After 2years, in the UK, they dropped my premium by £200 approx after 2 years claims free.


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